2,208 Shares in The J. M. Smucker Company (NYSE:SJM) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,208 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of J. M. Smucker in the first quarter valued at $554,000. BOKF NA grew its stake in J. M. Smucker by 20.7% in the 1st quarter. BOKF NA now owns 8,209 shares of the company’s stock valued at $1,024,000 after acquiring an additional 1,408 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in J. M. Smucker by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 145,306 shares of the company’s stock valued at $18,291,000 after acquiring an additional 1,239 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in J. M. Smucker during the 1st quarter valued at about $397,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of J. M. Smucker in the first quarter valued at about $1,215,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

SJM opened at $113.65 on Tuesday. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The company’s 50 day simple moving average is $116.42 and its 200 day simple moving average is $115.55. The stock has a market capitalization of $12.09 billion, a PE ratio of 16.07, a P/E/G ratio of 3.18 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Barclays dropped their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Finally, TD Cowen cut their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $127.09.

J. M. Smucker Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.